Peter Cardillo Quotes

"The action is good so far, but we need to see another few days of this -- with slight pullbacks and people then buying on those pullbacks -- for this to really indicate that some sort of bottom has been set."

"The action is good so far, but we need to see another few days of this -- with slight pullbacks and people then buying on those pullbacks -- for this to really indicate that some sort of bottom has been set,"

"I don't think we're close to a bottom yet. There's just an absence of buyers, and as a result the market continues to work itself lower. But having said that, when it stages a turnaround, it will be quick, vivacious and violent."

"We are already seeing some signs of a slowdown in the economy. If durable goods confirm what housing starts voiced last week, then obviously we might see a little bit better tone in the bond market,"

"From an interest rate standpoint, it's negative. On the other end, if the economy stays strong, corporate earnings will stay strong."

"The market is very much gripped by earnings' warnings. That's why the market seems to be lacking a clear direction on the upside."

"This trade deficit news certainly points in the direction that the U.S. economy is slowing."

"We're seeing a cautious market because of the Fed meeting. There are a lot of events the markets need to sort through, and the most important one is Mr. Greenspan."

"If the Asian crisis deepens, that simply means that corporate profits are going to suffer."

"Once everyone sifted through all the comments, the realization was that he hasn't changed his thoughts about the economy. He doesn't think the economy is ready to fall off a cliff, and that's basically a strong fundamental for the stock market."

"The perception is turning toward the fact that the economy is slowing and we can still continue to grow even if the economy grows at 5 percent."

"That is a negative statement as far as I am concerned. That puts a negative emphasis on the economy."

"I think we're going to see the preliminary GDP show that this economy is flat or even negative. But that's old news. What the market needs to focus on is numbers that show us we are beginning to rebound."

"There aren't any (economic) numbers to say, 'Hey, the economy is slowing,' or 'Hey the economy is strengthening,'"

"The economy is already weak and this is adding to the woes. It's a lose-lose situation. If the situation is settled soon, we go back to the same soft economy. If the situation is not settled soon, we get an even softer economy."

"The good news is that we have a strong economy and there's no inflation, ... Investors are starting to realize the Fed may not need to be that aggressive."

"I believe the worst of the decline in the 'old economy' stocks is over, ... and I think what we're seeing here is a consolidation phase, even though this consolidation phase is probably taking place at the lower end of the trading range. I don't believe that yesterday's decline in Nasdaq is the beginning of any major correction just yet. Now, that is not to say that we're not going to have a correction. Indeed, we are. But I just believe that there is sufficient money out there and sufficient demand for these tech stocks yet, and that is not going to disappear so quickly. What we saw yesterday was little profit-taking after a spectacular week."

"I think we're going to see the preliminary GDP show that this economy is flat or even negative, ... But that's old news. What the market needs to focus on is numbers that show us we are beginning to rebound."

"It is obvious that the economy continues to grow and that the job market is growing. Today's numbers are offering investors a sense of relief that perhaps the Fed may not have to be too aggressive in raising interest rates."

"This market is grossly oversold. There has been a lot of stimulus added to the economy, so somewhere along the line a recovery will take place."